Herman Cain’s father, Luther, wanted ownership of his own home, his version of the American dream. According to the free December 2011 issue of Newsmax magazine, he saved money from three jobs, one of which included being chauffer for the president of Coca-Cola. Luther Cain asked his boss for part of his pay in company stock…and got it. As the stock’s value increased, he eventually quit one job then another and paid cash for his dream home.
That is my version of the American dream. Luther Cain was wise enough to realize that saving income from three jobs wouldn’t be enough; he had to own a piece of the rock. Business ownership – capital investment – is the best way to lift people out of poverty.
Yes, poor people need jobs so they can rely on their own efforts to have income. They particularly need to save to buy the big-ticket items that drive our economy. They also need to buy into business ownership, whether proprietor- or partnership or through the purchase of stock that pays dividends. This will lift them out of soul-smothering poverty and dependence on others.